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Keyword: taxhikes

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  • Finally! Even Some Union Members Are Against An Illinois Tax Hike

    04/29/2014 8:49:28 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | April 29, 2014 | Mike Shedlock
    Via email, Ben VanMetre at the Illinois Policy Institute mentions huge tax hikes that Progressives are angling for. The tax hikes are so steep and so universal that even thinking union members are against the hikes. From VanMetre State Sen. Don Harmon and advocates for his progressive tax proposal argue that the progressive income tax will provide tax relief for Illinois’ middle class. Not only is the argument not true, but the progressive income tax was never about tax relief. The proof of that is in the numbers. Under Illinois law, the individual income tax rate will be 3.75% in...
  • Obama to Kill Tomahawk, Hellfire Missile Programs Cornerstone of U.S. Naval power eliminated

    03/24/2014 11:23:52 AM PDT · by Nachum · 124 replies
    Free Beacon ^ | 3/24/14 | Adam Kredo
    President Barack Obama is seeking to abolish two highly successful missile programs that experts say has helped the U.S. Navy maintain military superiority for the past several decades. The Tomahawk missile program—known as “the world’s most advanced cruise missile”—is set to be cut by $128 million under Obama’s fiscal year 2015 budget proposal and completely eliminated by fiscal year 2016, according to budget documents released by the Navy. In addition to the monetary cuts to the program, the number of actual Tomahawk missiles acquired by the United States would drop significantly—from 196 last year to just 100 in 2015. The...
  • Obama Will Insist on Tax Hikes in Budget Deal

    10/17/2013 6:57:38 AM PDT · by Olog-hai · 35 replies
    Cybercast News Service ^ | October 17, 2013 - 6:46 AM | Susan Jones
    As part of the deal to end the government shutdown and extend the debt limit, the House and Senate have agreed to begin long-stalled budget negotiations. The conferees planned to meet Thursday morning for breakfast—to “break the ice,” the Associated Press reported. Once the actual talks get underway, President Obama will insist that tax hikes be part of the solution. “The president has insisted that in the budget negotiations that he’s been calling for all year, everything has to be on the table. And that will be his position going forward,” White House spokesman Jay Carney told reporters on Wednesday....
  • Tax hikes likely for majority of Germans

    08/23/2013 2:52:21 AM PDT · by Olog-hai · 9 replies
    The Local ^ | 21 Aug 2013 16:10 CET | (DPA/The Local/tsb)
    German taxpayers will have to brace themselves for higher rates to plug holes in the budgets of local authorities, according to research released on Wednesday. A survey from consultants Ernst & Young shows that three-quarters of local authorities are set to raise taxes and increase charges for their services either this year or next year to make up for budget shortfalls. … A third of local authorities also wanted to raise fees for children centers, while 17 percent planned to increase cemetery charges. Last year, a fifth of authorities raised property taxes and in the coming year 28 percent plan...
  • Senate Dems to GOP: Give us tax hikes or you get no tax reform

    07/26/2013 10:54:42 AM PDT · by SeekAndFind · 8 replies
    Hotair ^ | Kevin Glass | Kevin Glass
    Over the last two years, a groundswell of movement has happened behind the scenes on Capitol Hill. Rep. Dave Camp (R-Mich.) has been working to convince his colleagues of the need for tax reform. Recently, Max Baucus has begun to spearhead that same initiative on the Senate side. And indeed, with Orrin Hatch signed on, it has looked like this is something that could happen.It’s important to note that we’re only talking about tax reform, not cuts. That’s what has kept this tenuous bipartisan movement together. The approach is largely revenue-neutral and would likely end up distributionally similar to what...
  • 2 GOP incumbents (tax hikers)lose primaries (Sherwood, May)

    06/12/2013 8:01:23 AM PDT · by Gopher Broke · 5 replies
    Sherwood, May lose; Gilbert remains By Alex Bridges Political newcomers defeated two of the region's veteran Republican Party delegates in primaries Tuesday, according to unofficial results. Mark J. Berg defeated Del. Beverly J. Sherwood for the 29th District. Dave LaRock defeated Senior Republican Joe May for the 33rd District, according to unofficial results from the Virginia State Board of Elections. Both May and Sherwood lost their bids to run for their 11th terms. The outcomes mean Berg and LaRock will represent the party on the ballot along with Del. C. Todd Gilbert in the regular election Nov. 5. Gilbert fended...
  • Why There Are No Jobs In America - Chuck Missler

    06/05/2013 6:08:07 AM PDT · by F15Eagle · 94 replies
    YouTube poster ^ | today | unknown
    OK, to edumacate (lol) some liberals. Too little, too late but better than nothing. Now I do NOT agree with everything Chuck teaches - especially the silly "Nephilim" thing. But he's quoting Porter Stansberry here - and it's pretty dead-on. Worth watching. I'll put the link in the thread, too.
  • Thousands in Israel protest proposed budget

    05/11/2013 11:09:20 PM PDT · by Olog-hai
    Associated Press ^ | May 11, 2013 3:04 PM EDT
    Israeli police say protesters are marching in Tel Aviv over proposed tax hikes and benefit cuts. … Protesters are angry over the proposed decrees by Israel’s new finance minister Yair Lapid who started his job several weeks ago. Lapid ran in January’s election on a ticket vowing to help the middle class. The proposed budget hits that demographic deep in their pockets with raised taxes and slashed benefits. …
  • Obama to offer Social Security cuts in new budget — in exchange for tax hikes

    04/05/2013 9:22:29 AM PDT · by SeekAndFind · 79 replies
    Hotair ^ | 04/05/2013 | Ed Morrissey
    No wonder it's taking so long for Barack Obama to send his budget proposal to Congress. The budget is almost two months overdue, but Republicans may find it worth the wait. The Washington Post reports that Obama will offer cuts to Social Security in exchange for tax hikes to close the deficit --- in effect, the grand bargain he and John Boehner nearly made two years ago: President Obama will release a budget next week that proposes significant cuts to Medicare and Social Security and fewer tax hikes than in the past, a conciliatory approach that he hopes will convince...
  • Report: Senate Democrats' Budget Hikes Taxes by $1 Trillion, Never Balances

    03/12/2013 6:32:26 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | March 12, 2013 | Guy Benson
    Raise your hand if you're surprised by any of this:   Senate Democrats are drafting a federal budget blueprint that would raise nearly $1 trillion in new taxes over the next decade and slice roughly $1 trillion more from projected spending, according to Democratic aides familiar with the document. But the framework would never bring the budget into balance, potentially putting Democrats on the defensive as Washington enters a new phase in the ongoing battle over the swollen national debt. This week, both parties are scheduled to unveil competing visions for the 10-year period that begins Oct. 1. House Republicans...
  • Two months in, Democrats lament lack of leverage for more tax hikes

    03/04/2013 10:04:35 AM PST · by SeekAndFind · 14 replies
    Hotair ^ | 03/04/2013 | Ed Morrissey
    Looks like the Election Night buzz has finally begun to fade for Democrats. Both Roll Call and Politico have articles in which leading Democrats lament the discovery that the leverage they held on the expiration of the Bush-era tax rates didn’t translate into two years’ worth of arm-twisting. Let’s start with Barack Obama’s dissipating influence on budgetary matters, laid out on Friday night by Steven Dennis and Daniel Newhauser at Roll Call: It wasn’t supposed to be like this for the White House and a re-elected president with political capital to spend.But President Barack Obama is in a position of...
  • Governor Quinn announces $54 million for new Fine Arts Complex

    02/24/2013 2:59:09 AM PST · by ExxonPatrolUs · 14 replies
    ISU ^ | 2;23 | Kate Arthur
    Governor Pat Quinn announced a $54 million capital investment to build a Fine Arts Complex that will strengthen Illinois State University’s renowned arts programs and create 775 construction jobs. “This investment means Illinois State University will be able to build on its excellent reputation in the fine arts while creating hundreds of good jobs in Normal,” the governor said on Founders Day on February 21. “Higher education is a powerful force for growth in Illinois. We all benefit when our universities have the facilities to engage and educate our young people, whether the field is art, accounting or engineering.” The...
  • A Shaken Tax Landscape

    02/17/2013 10:14:54 AM PST · by Kid Shelleen · 10 replies
    Philadelphia Inquirer ^ | 02/05/2013 | Troy Graham and Dylan Purcell
    The politicians and analysts have been talking for more than a year about the potential winners and losers from Mayor Nutter's property tax reform, and now the lines have been drawn. The results of a citywide reassessment key to Nutter's Actual Value Initiative (AVI) were released Friday, and the data confirm some long-held expectations - wealthier, fast-changing neighborhoods are facing stiff increases, and many large commercial properties will see big drops in their bills. Some hikes are jaw-dropping. --snip-- It amounts to a massive redistribution of the city's property tax burden, and the stakes for both homeowners and politicians could...
  • Democrats map out plan to win sequestration war (Guess what's in the plan without peeking...)

    02/09/2013 6:11:04 AM PST · by SeekAndFind · 22 replies
    POLITICO ^ | 02/09/2013 | Manu Raju
    Senate Democrats are digging in against Republican calls for deeper spending cuts by bringing out some of their favorite punching bags: corporate jets, Wall Street and Big Oil. With the automatic budget cuts in the sequester coming up next month, Democrats hope to vote on an alternative plan to raise taxes on some of their favorite boogeymen in hopes of shifting the blame when the GOP inevitably rejects it. Majority Leader Harry Reid of Nevada, Budget Committee Chairwoman Patty Murray of Washington, Finance Committee Chairman Max Baucus of Montana and Appropriations Committee Chairwoman Barbara Mikulski of Maryland met Thursday to...
  • Phil Mickelson Releases Half-Hearted Apology For Being Honest About Hating The New Tax Hikes

    01/22/2013 2:23:27 PM PST · by SeekAndFind · 22 replies
    Business Insider ^ | 01/22/2013 | Jay Yarrow
    Just a day after Phil Mickelson said he needed to make "drastic changes" in his life because his tax rate was going through the roof, he is trying to walk back his comments. He released a statement through his spokesman T.R. Reinman in which Mickelson apologizes to anyone who may have been offended: "Finances and taxes are a personal matter and I should not have made my opinions on them public. I apologize to those I have upset or insulted and assure you I intend to not let it happen again." This is absurd. There is no need for a...
  • Spending Cuts Are Mostly Fiction (Why are spending hikes and tax hikes called spending “cuts.”?)

    01/15/2013 7:15:12 AM PST · by SeekAndFind · 3 replies
    Reason ^ | 01/15/2013 | A. Barton Hinkle
    Would you like to save $20,000 this year? Of course you would. Here’s how: Plan a month-long vacation to Disneyland, and budget $20,000 for the trip. Then don’t go. Presto! You just “cut” your family budget by 20 grand. This sounds absurd—because it is. Yet that is precisely how Washington operates. A couple of weeks ago, President Obama claimed on national TV that “I cut spending by over a trillion dollars in 2011.” But as many people quickly pointed out, in fiscal 2011 federal spending rose from $3.4 trillion to $3.6 trillion. Nevertheless, the President repeated the claim on Jan....
  • As depth of betrayal sinks in, followers of Al Gore feel confused and misled

    01/12/2013 5:57:39 PM PST · by george76 · 80 replies
    Irish Central ^ | January 11, 2013 | Ed Farnan
    In the history of mankind there are countless instances of cult figures who have lead their followers to ruin and disillusionment. Names like Jim Jones, David Koresh, The Pied Piper, Bernie Madoff, Adolph Hitler, Charles Manson, Bhagwan Shree Rajneesh and a whole host of TV evangelists have done their damage. It was easy for those outside and not sucked in by these hucksters to see the message they peddled defied logic, science and the laws of economics: Alchemy, master race, buy your way into heaven, getting something for nothing, all have that common thread. ... Gore was making hundreds of...
  • It’s Not “Game Over”— It’s Time for the GOP to Counterattack

    01/09/2013 4:46:09 AM PST · by Kaslin · 52 replies
    Townhall.com ^ | January 9, 2013 | Kurt Schlichter
    The current state of the GOP brings to mind the surviving Marines in Aliens, with no shortage of demoralized hacks lamenting their inability to resist by channeling Private Hudson: “Maybe you haven't been keeping up on current events but we just got our a**** kicked, pal!” So what? So we took a hit on the Fiscal Cliff. Stand up, brush off and get back into the fight. This is no time for self-pity, no time for weakness. Every combat leader knows that when you take a hit, you regroup, reorganize, and prepare to counterattack. The defense is but a temporary,...
  • Assembly Session 2013: prepping for the creeping lunacy (Maryland)

    01/08/2013 2:12:51 PM PST · by Tolerance Sucks Rocks · 12 replies
    The Examiner ^ | January 7, 2013 | J. Doug Gill
    Dread. Usually not a word one associates with the New Year… well, provided one is not a glass half-empty sort. Hopeful, encouraged, positive… that sort of rot is what travels the aural circuit in the week or so following clean-slate day. But ‘round these parts – and near the nether regions of other state capitals – the newly-birthed year is greeted with a level of enthusiasm rivaled only by the anticipatory feeling derived from the possibility of a TSA cavity search. And that point of comparison is frighteningly accurate; given said cavity is the only place our local legislators have...
  • You Cannot Raise Taxes on the Rich

    01/08/2013 7:47:58 AM PST · by SeekAndFind · 10 replies
    National Review ^ | 01/08/2013 | Kevin D. Williamson
    Thanks to the fiscal-cliff deal and the Obamacare tax, we now have a tax code that is more “progressive” than at any time since Jimmy Carter was president. It will be interesting to see what long-term effect that has on household-income trends. The results may prove counterintuitive. Tax increases on high-income people may be redistributive, but not always in the way intended. That is because we pay taxes individually in the short term, but in the long term we pay taxes collectively: Individuals and firms pass on tax costs to employers and consumers to whatever extent they can, just like...
  • The Stealth Tax Hike: Why the new $450,000 income threshold is a political fiction

    01/05/2013 9:54:12 AM PST · by SeekAndFind · 17 replies
    Anyone still need a reason to abandon "grand bargains" and deals negotiated between this President and GOP Congressional leaders? Here it is: The revival of two dormant provisions of the tax code means the much ballyhooed $450,000 income threshold for the highest tax rate is largely fake. The two provisions are the infamous PEP and Pease, which aficionados of stealth tax increases will recognize immediately as relics of the 1990 tax increase. Those measures, which limit deductions and exemptions for higher-income taxpayers, expired in 2010. The Obama tax bill revived them this week. It isn't going to be pretty. Under...
  • GOP Congressman: Boehner Will Lead Republicans to 2014 Loss

    01/03/2013 9:20:01 AM PST · by Qbert · 38 replies
    Breitbart.com ^ | 2 Jan 2013 | REP. JEFF LANDRY (R-LA)
    It’s an embarrassing time to be a Republican Congressman—albeit an outgoing Congressman.  As negotiators, we utterly failed to meet our two objectives: to reduce spending and prevent tax increases. President Obama demanded tax increases with small spending cuts, and that’s exactly what passed. Thanks to the leadership of Speaker John Boehner, the House passed a bill which raises taxes by $620 billion while cutting spending by a mere $15 billion over 10 years. Usually, a compromise is an even trade (one-for-one). In this trade, House and Senate Republicans traded $41 dollars in tax hikes for every $1 dollar in spending...
  • Fiscal Irresponsibility Day. Washington rams through an appropriately hideous deal.

    01/03/2013 7:03:30 AM PST · by SeekAndFind · 8 replies
    Reason ^ | 01/03/2013 | Matt Welch
    It's the deficit-reduction package that doesn't reduce the deficit. It's the debt-ceiling deal that doesn't touch the debt ceiling (and doesn't cut debt). It's the long-term entitlement negotiation that—after nearly three years of wheedling—does not delay, let alone stave off, a Baby Boomer retirement bomb currently on pace to swallow half of federal outlays by 2030. Say this for the fiscal cliff-avoidance bill that passed on New Year's Day—it is a near-perfect expression of Washington's grotesque devolution since Bill Clinton left office. Not only have a succession of Republican and Democratic presidents and congresses combined to jack up spending from...
  • Debbie Wasserman-Schultz: These tax hikes on the rich are just first step of “the balanced approach”

    01/02/2013 7:49:09 PM PST · by SeekAndFind · 26 replies
    Hotair ^ | 01/02/2013 | AllahPundit
    Via Mediaite, "balanced approach" is Obama's Orwellian term for selling tax hikes to the public as a condition of spending cuts even though there's nothing remotely balanced about our fiscal problems. Spend 10 seconds looking at the graphs in Yuval Levin's new post at the Corner. That's the reality that the "balanced approach" pretends to address. As Levin said in another post today, “The fiscal trajectory of our welfare state is not sustainable, no matter how much taxes go up.”But okay. The left’s new talking point, pushed by The One himself, is that they absolutely positively won’t negotiate over the...
  • Why the Obama tax hikes have only just begun

    01/02/2013 11:45:49 AM PST · by SeekAndFind · 37 replies
    American Enterprise ^ | 01/02/2013 | James Pethokoukis
    When an economy is booming and jobs are plentiful, a “do no harm” approach to public policy will suffice. If GDP were expanding at a 4% annual rate and the unemployment rate were 5% and the national debt were low, then the fiscal cliff deal might be tolerable rather than terrible. While it won’t create any jobs or add to growth — just the opposite in fact — and it will only cut the national debt by a rounding-error amount, passage does avoid an across-the-board income tax hike and probable recession.So that’s something. But good enough? Not really. Avoiding...
  • Obama's Bottomline: Spare Only 'Middle Class' from Tax Hike and Extend Unemployment Benefits

    12/29/2012 8:28:06 AM PST · by Qbert · 22 replies
    CNSNews ^ | December 28, 2012 | Terence P. Jeffrey
    (CNSNews.com) - President Barack Obama said on Friday evening that if he cannot make a bipartisan deal with congressional leaders before the Monday "fiscal cliff" deadline, he has asked Senate Majority Leader Harry Reid to bring legislation up for a vote in the Senate that would extend the Bush tax rates for "middle class" Americans only and extend unemployment benefits for 2 million Americans whose government payments would otherwise expire. [Snip] "But let’s not miss this deadline," he said. "That is the bare minimum that we should be able to get done." “For the past couple of months I’ve been...
  • One More Time: The Stakes of the Fiscal Cliff

    12/26/2012 6:27:35 PM PST · by Kaslin · 11 replies
    Townhall.com ^ | December 26, 2012 | Kevin Glass
    President Obama is on his way back to Washington, as the Associated Press reports that he's "cutting short his traditional Christmas holiday in Hawaii, planning to leave for Washington on Wednesday evening... expected to arrive in Washington early Thursday." Most Americans probably won't sympathize that the President has a short vacation - after all, at work, he didn't get that big project finished in time for the holidays. The elements of the fiscal cliff can be roughly divided into four categories: defense spending cuts, non-defense spending cuts, income tax hikes, and payroll tax hikes. Of these, what has gotten the...
  • Report: Obama Makes Threats, Concedes Little During Fiscal Cliff 'Negotiations'

    12/26/2012 5:30:13 PM PST · by Kaslin · 43 replies
    Townhall.com ^ | December 26, 2012 | Guy Benson
    While most media accounts of the fiscal cliff fiasco have focused on Republicans' travails, few have adequately noted Democrats' starring role in our current dysfunction.  Harry Reid obstructed a vote on the president's plan, Nancy Pelosi whipped votes against her own erstwhile plan, and the president has fully retreated from ideas he supported as recently as last year.  A pre-Christmas Wall Street Journal article walks readers through the failed negotiations, and two recurring themes are woven throughout: (1) Obama has zero interest in meaningful concessions on his end, and (2) Obama is supremely confident in his ability to stick Republicans...
  • The ObamaCare Fiscal Cliff

    12/22/2012 4:59:44 AM PST · by Kaslin · 8 replies
    Townhall.com ^ | December 22, 2012 | John C. Goodman
    In the standoff over the fiscal cliff, all the discussion has been about the Bush tax cuts. There has been no discussion about the ObamaCare tax increases. That's a mistake. Five of the tax increases Americans will face on January 1 are new taxes created under the Affordable Care Act (ObamaCare). And they are not just for the very rich. Three of the five will hit people who are solidly middle class.The new ObamaCare taxes will hit everything from dividends and capital gains to day care and services for special needs children. They will increase the tax bill for those...
  • President Obama's dilemma

    12/21/2012 8:37:09 AM PST · by Qbert · 28 replies
    Politico ^ | December 21, 2012 | Carrie Budoff Brown
    President Barack Obama dispatched Mitt Romney a little more than a month ago but now faces an unpredictable new threat: a deeply divided House GOP that doesn’t even seem capable of bargaining with him.  Obama had hoped the election would unclog the works in Washington. His aides often speculated that he’d be freer to negotiate because he didn’t have to run again — and Republicans didn’t have to run against him.  But Thursday’s revolt was a grim reminder of how closely Obama’s future is tethered to that of his political rivals.  If House Speaker John Boehner can’t muscle his own...
  • Eric Cantor: We have the votes for Plan B (But will it pass the Senate?)

    12/20/2012 1:45:02 PM PST · by SeekAndFind · 25 replies
    Hotair ^ | 12/20/2012 | Erika Johnsen
    It sounds like Speaker Boehner is angling to push the fiscal-cliff onus back onto Senate Democrats and the president before the holidays hit with his Plan-B gambit, especially now in the light that the Senate is taking off until the Thursday after Christmas — which will leave a mere five days to cobble together any type of deal upon their return. The big question, of course, was whether or not the move would be at all worthwhile, since there are plenty of conservatives expressing their vociferous opposition to said plan and getting it through the House is by no means...
  • Former Reagan AG Meese, Ken Blackwell Lead Group Calling on Republicans to Reject Boehner’s ‘Plan B’

    12/20/2012 7:56:51 AM PST · by Qbert · 9 replies
    PJMedia ^ | December 19, 2012 | THE TATLER
    A group called the Conservative Action Project has released a letter today calling on House Republicans to vote against Speaker John Boehner’s “Plan B” if it comes up for a floor vote. The group released a statement along with a stellar list of signatories, headlined appropriately “NO MORE TAXES!!!!!!!!” NO MORE TAXES!!!!!!!!!As leaders of broad based American citizen groups we call upon Republican House Members to vote no on Speaker Boehner’s Tax Hike known as “Plan B.”  This tax increase bill is just like the tax increase proposal Nancy Pelosi offered last year on May 23rd. Speaker Boehner, President Obama,...
  • Disgraceful: Obama Invokes Newtown Massacre to Pressure Republicans to Go Along with His Tax Hikes

    12/20/2012 7:55:05 AM PST · by SeekAndFind · 18 replies
    Pajamas Media ^ | 12/20/2012 | Bryan Preston
    During his press conference today, called to announce his new gun control task force, President Obama invoked the Newtown massacre to apply pressure on congressional Republicans in the fiscal cliff standoff. OBAMA: If this past week has done anything it should give us some perspective. I-I-I-If there’s one thing we should have, after this week, it should be a sense of perspective about what’s important. And I would like to think that members of that caucus would say to themselves “You know what, I disagree with the president on some things. We wish the other guy had won. We’re...
  • The devil is in the defaults (Fiscal cliff: 1T in tax hikes in exchange for 122B specified "cuts")

    12/18/2012 8:20:54 AM PST · by Qbert · 8 replies
    The Washington Examiner ^ | December 18, 2012 | Conn Carroll
    When Speaker John Boehner, R-Ohio, began negotiations with President Obama over how to resolve the fiscal cliff, he promised conservatives that he would make a principled stand on tax rates. Last Friday, he surrendered those principles by offering Obama a tax rate hike on incomes over $1 million. That concession, along with other measures capping loopholes and deductions, would raise approximately $1 trillion over ten years. In exchange, Obama has now offered to change how the federal government calculates inflation when determining Social Security benefits. How much would this ‘reform’ cut entitlement spending by? $122 billion. Over ten years. That...
  • The U.N. Wants to Tax Us, Too

    12/18/2012 6:13:07 AM PST · by Kaslin · 15 replies
    Townhall.com ^ | December 18, 2012 | Phyllis Schlafly
    While President Obama and Speaker John Boehner are wrestling with whether or not they will agree to raise taxes, United Nations delegates partying in Doha, Qatar are planning to impose a new kind of tax on Americans. U.N. conferees have been discussing how they can start a global tax that would hit Americans hard. The U.N. bureaucrats are not deterred by the fact that Americans should be protected by our U.S. Constitution, Article 1, Section 7, which specifies that "all bills for raising revenue shall originate in the House of Representatives." The greedy globalist U.N. bureaucrats have been conniving for...
  • To Hell With Charity? (Part 1 of 2)

    12/17/2012 9:28:13 PM PST · by Kaslin · 19 replies
    Townhall.com ^ | December 18, 2012 | Chuck Norris
    (Post-publishing note: My wife, Gena, and I join the rest of the nation in mourning with and praying for the families and friends of the 20 children and six adults who lost their lives at Sandy Hook Elementary School in Newtown, Conn. We are so incredibly sorry for your loss, and want you to know it is for you and in honor of the precious souls of your loved ones that we continue to fight for a more peaceful, safe and charitable America.) There are two weeks remaining for Washington to take action before the George W. Bush tax...
  • Surprise: investors shifting resources to avoid tax hikes next year

    12/11/2012 9:42:41 AM PST · by SeekAndFind · 9 replies
    Hotair ^ | 12/11/2012 | Ed Morrissey
    Remember the difference between static and dynamic tax analysis? The former posits that tax changes produces no change in market behavior, so that hiking taxes by 10% gets you 10% more in revenue. The latter assumes that changes in tax codes forces markets to adapt, so that rate hikes risk lowering revenues, and lowering rates in certain ways can produce a better revenue stream, especially over the long run. Republicans favor the latter analytical method, while Democrats insist that tax cuts “cost” revenue opportunities and cause deficits.Which is correct? Well, the Washington Post reports on a lot of dynamic activity...
  • Deal or no deal, ObamaCare taxes poised to hit next month

    12/09/2012 12:42:09 PM PST · by 2ndDivisionVet · 20 replies
    Fox News ^ | December 8, 2012
    Even if lawmakers somehow stop the Bush-era tax rates from expiring, taxes are still expected to rise on Jan. 1 -- thanks to a trio of new fees tied to the federal health care overhaul. The IRS this past week published rules for some of the first major taxes meant to help pay for President Obama’s massive insurance coverage expansion. Together, they will raise investment and income taxes on top earners and impose a separate -- and controversial -- tax on medical devices. The bundle of fees has been largely overlooked as lawmakers and the White House bicker over the...
  • Obama’s weekly address: 'I won’t compromise on tax hikes on the rich'

    12/08/2012 9:50:32 AM PST · by SeekAndFind · 37 replies
    ABC News ^ | 12/08/2012 | Devin Dwyer
    Taxes will rise on all Americans in 23 days without bipartisan Congressional intervention. But President Obama and House Republicans are showing little sign of breaking the frosty standoff over the “fiscal cliff.” Both sides remain at loggerheads over what to do about tax rates for the top two percent of income-earners and the nation’s debt limit. In his weekly address, Obama says he wants an immediate resolution, but only if Republicans agree to raise the top tax rates on individuals earning $200,000 or more. “If we’re serious about reducing our deficit while still investing in things like education and research...
  • If U.S. hikes taxes, high-income Californians might pay almost 52 percent

    12/06/2012 10:47:06 AM PST · by SeekAndFind · 10 replies
    Hotair ^ | 12/06/2012 | Erika Johnsen
    Whether it's because we end up going over the fiscal cliff or because Republicans agree to President Obama's plan of not extending the Bush tax cuts on America's wealthiest earners, the possibility of an effective tax hike means that higher-income Californians may be in for a whopping aggregate marginal tax rate. The super-liberal state already succeeded in approving their own rate hike with Proposition 30 in the November election, and combined with the potential federal raises, they could be looking at a top bracket with a marginal income tax rate of just under 52 percent: Gerald Prante, an economics professor...
  • Rubio: Obama Tax Hikes Will Devastate American Consumers

    12/05/2012 5:23:30 PM PST · by Olog-hai · 15 replies
    Newsmax ^ | Wednesday, 05 Dec 2012 05:23 PM | Todd Beamon and John Bachman
    Florida Sen. Marco Rubio declared in an exclusive Newsmax TV interview that the nation’s middle-class consumers will be hardest hit by President Barack Obama’s proposed tax increases. “When you raise taxes, the money has to come out of the private economy,” Rubio, the first-term GOP senator, tells Newsmax. “It’s coming out of a business somewhere, whose taxes are going to go up. … What we need to make clear to people is that these taxes that the president’s proposing to raise is going to hit a lot of small businesses and mid-sized businesses that pay on their personal rate.” …
  • The Blue-State Suicide Pact (Fiscal Cliff Tax Hikes Will Affect Blue-States the Most)

    12/05/2012 2:50:49 PM PST · by SeekAndFind · 9 replies
    forbes ^ | 12/05/2012 | Joel Kotkin
    With their enthusiastic backing of President Obama and the Democratic Party on Election Day, the bluest parts of America may have embraced a program utterly at odds with their economic self-interest. The almost uniform support of blue states’ congressional representatives for the administration’s campaign for tax “fairness” represents a kind of bizarre economic suicide pact. Any move to raise taxes on the rich — defined as households making over $250,000 annually — strikes directly at the economies of these states, which depend heavily on the earnings of high-income professionals, entrepreneurs and technical workers. In fact, when you examine which states,...
  • THE HILL: NO GOP OPPOSITION TO BOEHNER'S TAX HIKE FLIP-FLOP

    12/05/2012 12:04:44 PM PST · by Bigtigermike · 25 replies
    Breitbart ^ | Wednesday December 5, 2012
    In a report on the GOP's half of the Fiscal Cliff debate, The Hill claimed there was no opposition to Republican House Speaker John Boehner's sudden caving in to President Obama's demand that tax hikes accompany any solutions to the budget mess. The Hill reported on December 4 that the GOP was "moving reluctantly toward a debt deal that would increase revenues" and that Speaker Boehner had offered some $800 billion in new taxes in his most recent fiscal cliff proposal. How could Boehner achieve this flip flopping away from the Party's presumptive principles? The Hill says it's because there...
  • The rich will pay more taxes, Boehner says

    12/05/2012 9:32:33 AM PST · by Qbert · 135 replies
    KITV-TV via MSNBC ^ | 12/5/2012 | KITV-TV
    Taxes on the wealthy are going up, House Speaker John Boehner conceded on Wednesday in challenging President Barack Obama to sit down with him to hammer out a deal for avoiding the fiscal cliff. The statement to reporters reflected how negotiations on reducing the nation's chronic federal deficits and debt have evolved since Obama's re-election last month. Republicans once opposed to any new revenue in their quest to shrink government now realize Obama's victory and public support for the president's campaign theme of higher taxes on the wealthy leave them with little negotiating leverage. Less than four weeks from the...
  • GOP shouldn’t adopt ‘new revenue’ as euphemism for tax hikes

    12/04/2012 5:42:37 PM PST · by SeekAndFind · 4 replies
    Washington Examiner ^ | 12/04/2012 | Philip Klein
    Over the past few years, there’s been a growing trend of Democrats and their allies in the media using the phrase “new revenue” as a euphemism for tax hikes. As Republicans struggle to find ways to strike a deal with President Obama while claiming to honor their pledges not to raise taxes, they are edging closer to embracing this new terminology. If that happens, it would have dangerous long-term consequences for tax policy. On Monday, House Speaker John Boehner sent a letter to President Obama suggesting the parties strike a deal along the lines of one previously suggested by Erskine...
  • Why President Obama's Tax Hike Will Hurt the 98%

    12/04/2012 7:01:57 AM PST · by SeekAndFind · 20 replies
    Forbes ^ | 12/04/2012 | Charles Kadlec
    President Barack Obama’s campaign to raise tax rates on the top 2% will cause far more economic pain to the 98% than to the truly rich. First, the truly rich have already demonstrated their ability to avoid much of the Obama tax hikes. At the same time, the higher marginal tax rates he demands will reduce the opportunities for economic activity, leading to slower growth and fewer job opportunities for the 98%. Finally, those with high incomes inevitably will shift much of the burden of Obama tax hike to those with lower incomes. Let’s start with the ruse that the...
  • President Obama Pretends His Tax Plan is the Only Game In Town

    12/02/2012 3:09:52 AM PST · by Kaslin · 16 replies
    Townhall.com ^ | December 1, 2012 | Kevin Glass
    This week, when speaking at children's toy K'NEX factory in Pennsylvania, President Obama urged the House of Representatives merely to pass what Harry Reid's Senate has passed and send him the bill. The Senate has already passed a bill to keep income taxes from going up on middle-class families. That’s already passed the Senate. Your member of Congress like Allyson and Chaka, other Democrats in the House, they're ready to go. They're ready to vote on that same thing. And if we can just get a few House Republicans on board, we can pass the bill in the House. It...
  • Can a Grand Bargain Ever Work?

    12/01/2012 2:02:19 PM PST · by Kaslin · 8 replies
    Townhall.com ^ | December 1, 2012 | John C. Goodman
    The idea behind a grand bargain to get the federal budget deficit under control is a simple one. Republicans agree to tax increases and Democrats agree to spending cuts. In a previous post I warned that this could be a trap for Republicans, just like similar budget deals have been in the past.There are two problems. First, the tax increases will hit immediately, while the spending cuts will be mainly in the future. That means future Congress's will have an opportunity to renege on the agreement before any serious spending reduction takes place. Second, all the serious spending increases in...
  • Obama demands $1.6 trillion tax boost, and an unlimited credit card

    11/30/2012 8:19:05 AM PST · by Qbert · 20 replies
    Daily Caller ^ | 11/30/2012 | Neil Munro
    President Barack Obama has dramatically upped his demands in the fiscal crisis negotiations: He wants Congress to levy twice as much in extra taxes from Americans as he urged during the election campaign, give up its control over the nation’s debt limit, and fund an immediate $50 billion stimulus for his political priorities. In exchange, Obama offered to consider — but not necessarily accept — GOP proposals for cutting $400 billion from Medicare and other programs strongly favored by off-year voters. That listening session would take place sometime in 2013, giving the president plenty of time to wrap the unpopular...
  • "Negotiating," Democrat-Style

    11/29/2012 4:03:03 PM PST · by Kaslin · 4 replies
    Townhall.com ^ | November 29, 2012 | Guy Benson
    The White House has been hyping its #My2K Twitter hashtag in an attempt to galvanize supporters to contact their Congressional representatives to demand action to avert the fiscal cliff.  The administration estimates that unless Congress moves, the average family's tax bill will jump by more than $2,000, starting on the first of January.  The implication, of course, is that Republicans are once again standing in the way of resolving this problem.  Show of hands -- as the media breathlessly follows every minor twist and turn of these negotiations, how many of you have seen this fact reported?   .@barackobama's #My2K shenanigans ignore...